Red Bull Loses Its Wings, Dragging Norfolk’s European Business Down — Panjiva


Red Bull Loses Its Wings, Dragging Norfolk’s European Business Down

China 1846 Cons. Discr. - Autos 693 Cons. Staples - Food/Beverages 420 Corp - Ports 681 European Union 424 Industrials - Capital Goods 284 Mode - Containerized 1037 Mode - Seaborne 1308 U.S. 3450

Container handling through Norfolk and its neighboring ports climbed 10.1% year over year in May, driven by a 10.1% rise imports and 18.6% surge in empty container handling. By contrast to the U.S. average, Norfolk’s shipments from China actually rose by 10.2% while its shipments from Europe fell by a worse-than-average 5.6%. The latter was in large part down to a 33.1% collapse in shipments by Red Bull, the largest shipper using the port in 2018. Industrial sector imports were also weak with toolmaker Stihl seeing a 33.4% slide and Michelin’s tire shipments falling 61.0%.

PANJIVA RESEARCH is a service provided by Panjiva, Inc. ("Panjiva") to relevant global subscribers, and are deemed to be Panjiva "Services" subject to the Panjiva Terms & Conditions of Use. Information contained within or made available via the Services is for informational purposes only and nothing in the Services shall constitute or be construed as an offering of financial instruments, or as investment advice or recommendations by Panjiva, Inc. or its affiliates of an investment strategy or whether to "buy", "sell" or "hold" an investment. The Services may include views and commentary about customers of Panjiva. No aspect of the Services is based on consideration of your individual circumstances, and you should determine on your own whether you agree with the information contained within or made available via the Services. Employees involved in Panjiva Research may hold positions in securities analyzed or discussed in the Services. Panjiva does not make any express or implied warranties, representations, endorsements or conditions with respect to the Services and the information contained within or made available via the Services, including without limitation, warranties as to the usefulness, completeness, accuracy, currentness, reliability or sufficiency of any information (including, without limitation, conclusions, statements, opinions, estimates, forecasts or projections of any kind) and expressly disclaims any implied warranties. Neither this disclaimer nor any of its contents may be forwarded or redistributed without the prior written consent of Panjiva. © 2019 Panjiva, Inc. All Rights Reserved.